Federal Home Loan Bank Awards Funding to Enhance Affordable Housing Stock in New Hampshire

NEC member the Federal Home Loan Bank of Boston (FHLB) has awarded four separate affordable housing projects in New Hampshire with $6.7 million in funding. Through a combination of grants, loans, and subsidies, the costs of construction, acquisition, and rehabilitation will be provided in order to preserve and create 133 units of affordable housing.

Funded through the FHLB’s Affordable Housing Program, these projects will improve or establish rental and homeownership units for individuals and families that earn up to 80 percent of the area median income. With projects in Ashland, Farmington, Hanover, and Portsmouth, this program aims to benefit seniors, individuals with disabilities, and households of a variety of income levels.

Edward A. Hjerpe III, the President and CEO of FHLB Boston said, “In partnership with our member financial institutions, we are proud to provide this funding which greatly benefits individuals and families struggling to afford housing and supports economic development throughout New England.”

The Council thanks FHLB for its investment in communities across New Hampshire and its efforts to improve access to affordable housing for individuals and families in the Granite State.

Read more from the New Hampshire Business Review.

img_side
mask_sidebar
Recently from the Blog

Tune in to DC Dialogue this Sunday!

03/22/2019 | Read Post

The Boston Red Sox and MGM Resorts International Announce Multi-Year Partnership

03/21/2019 | Read Post

In the News

NEC Elects Five Respected Business Leaders to Board of Directors

10/4/2018 | Read Press Release

NEC to Honor Gen. Joseph F. Dunford Jr., Vertex CEO Dr. Jeffrey Leiden, Veterans’ Advocate Travis Mills, Rep. Niki Tsongas

10/2/2018 | Read Press Release